langley DETACHED - MAY 2 0 2 4
SALES TO LISTINGS RATIO 23% SELLERS' MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
MEDIAN PRICE
TOTAL INVENTORY
SALES
▲ 3% VS 2023
▲ 45% VS 2023
▲ 12% VS 2023
▼ 10% VS 2023
There were 616 detached listings in Langley in May, 11% above April and 45% higher than May 2023. May detached home sales increased by 20% month-over-month, to 142, and were 12% above May 2023. The sales-to-listing ratio for detached in Langley, at 23%, re%ected a sellers' market.
THIS MONTH No.
PREVIOUS MONTH
PREVIOUS YEAR
No. 127 425
% Change
No. 118 555
% Change
TOTAL INVENTORY TOTAL SALES SALES-LISTINGS RATIO MEDIAN SOLD PRICE AVERAGE SOLD PRICE
142 616
-10% 3% -23% 12% 45%
-6% 0.8% 8% 20% 11%
The detached median price in May was $1,600,000, a 0.8% increase from April and 3% above May 2023.
$1,704,482 $1,600,000 23%
$1,817,008 $1,587,500 21%
$1,895,830 $1,560,000 30%
The average sold price was $1,704,482, 6% below last month and down 10% to May 2023.
▶ RATIO OF MEDIAN PRICES
▶ RECENT TRENDS
● DETACHED-TO-TOWNHOME ● TOWNHOME-TO-CONDO
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
616
555
542
541
511
468
1.82
1.80
1.77
489
425
458
447
1.60
410
386
1.53
1.51
358
190
118
142
96
93
127
87
82
52
51
96
91
68
$1.56M $1.55M $1.57M $1.57M $1.57M $1.59M $1.57M
$1.55M $1.63M $1.55M $1.59M $1.60M
$1.33M
23-May
24-Apr
24-May
▶ TOTAL LISTINGS & SALES BY PRICE RANGE
SELLERS' MARKET 21% +
BALANCED 12 - 20%
BUYERS' MARKET <12%
● SALES ● TOTAL INVENTORY ● S-L RATIO
150
100
48%
42%
32%
24%
50
11%
9%
6%
3%
0
<$1M
$1.0M-1.24M $1.25M-1.49M $1.5M-1.99M $2.0M-2.49M $2.5M-2.99M $3.0M-3.99M $4.0M-4.99M $5.0M-5.99M
$6.0M+
S-L RATIO SALES INVENTORY
9 1 11%
29 14 48%
113 47 42%
165 52 32%
68 16 24%
74 7 9%
66 4 6%
31 1 3%
18 0 n/a
43 0 n/a
Copyright © 2024 rennie group of companies. All rights reserved. This material may not be reproduced or distributed, in whole or in part, without the prior written permission of the rennie group of companies. Current as of June 10, 2024. All data from Greater Vancouver REALTORS®, Fraser Valley Real Estate Board, Whistler Listing System, and rennie. While the information and data contained herein has been obtained from sources deemed reliable, accuracy cannot be guaranteed. rennie group of companies does not assume responsibility or liability for any inaccuracies. The recipient of the information should take steps as the recipient may deem necessary to verify the information prior to placing any reliance upon the information. The information contained within this report should not be used as an opinion of value, such opinions should and can be obtained from a rennie and associates advisor. All information is subject to change and any property may be withdrawn from the market at any time without notice or obligation to the recipient from rennie group of companies. E.&O.E. 23 ●
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